Cryptocurrencies have surged in popularity in recent times. Bitcoin, being the most popular of all cryptocurrencies, has managed to gain the trust of many people across the world. Bitcoins and a few altcoins can also be used to buy goods and services. Usually in times of financial crisis, historically, people have looked towards gold. However, does the yellow metal still serve its purpose as an investment? In the past, a few cryptocurrency enthusiasts have claimed that Bitcoin was “digital gold”. For example, billionaire Ray Dalio. In an interview a couple of months ago, Dalio said that the world's biggest and oldest cryptocurrency was like “digital gold”.
But despite the digital currency market witnessing an unprecedented boom in the past year, the question that arises is that whether Bitcoin is really digital gold or just a passing fancy.
Cryptocurrency in India
The increasing popularity of cryptocurrency is attracting people from different corners of the world and India is no exception. Several companies here have started accepting cryptocurrency as a mode of exchange for goods and services. Bitcoin and Ethereum are entering the mainstream transaction practices for these companies. Festivals play an important role and special place in the lives of Indians. The festive season is all about buying new things.
With the increasing interest in Bitcoin, can we say that it's the new gold that can fund your festive buying? Well, in India, there are a few companies that accept Bitcoin. So, let's take a look at some of those companies, and also find out how you can make the most of your Bitcoin holdings when it comes to spending during the festive season.
Where Can You Use Bitcoin This Festive Season?
Suryawanshi Restaurants: Food plays an important part in any Indian festival. It's almost synonymous with festivals. The festive season in India is also the time when people go out to restaurants with friends or family to relish some good lip-smacking food. If you happen to go to Suryawnashi Restaurants in Bengaluru, you don't have to worry about cash or card payments as long as you have your cryptocurrencies intact. You can pay your bills using cryptocurrency.
Unocoin: This festive season, if you wish to gift your loved ones or friends vouchers, Unocoin is the place for you. If you own Bitcoin, you can buy gift vouchers from many brands. You just need to register as a Unocoin user to buy the vouchers.
HighKart: During festivals like Dussehra and Dhanteras many people purchase electronic items such as cameras, mobiles among other things. HighKart accepts payments in Bitcoin for the purchase of products from its site.
Purse: This is yet another online store that allows you to pay through Bitcoins. You can also convert Bitcoins into gift cards at Purse.
So, while the debate on Bitcoin being digital gold rages on, and there may be arguments on cryptocurrency replacing traditional money one day, for the time being, use your Bitcoin holdings at the above-mentioned companies when you go on a shopping spree this festive season.